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'Won't Allow People To...': Commerce Minister Piyush Goyal Clarified India's Stand on Cryptocurrency

📅 Unknown 🕐 Scraped: October 07, 2025

Summary: In a sharp clarification on India’s cryptocurrency policy, Union Commerce Minister Piyush Goyal stated that the government neither bans nor encourages digital assets, but regulates them with strict taxes and oversight. Speaking during his Doha visit, Goyal said India cannot endorse currencies without sovereign or asset backing, warning citizens not to fall for speculative hype. The government’s focus, he said, is on developing the RBI-backed digital rupee, designed for security, speed, and traceability. With a 30% tax on crypto gains and 1% TDS on every trade, India’s stance signals a future of regulation, not revolution. Goyal’s remarks come amid global debate on digital assets, showing India’s determination to balance innovation with national stability.

In a sharp clarification on India’s cryptocurrency policy, Union Commerce Minister Piyush Goyal stated that the go

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